Bitcoin
BTC$67 685.77

-1.74%

Ethereum
ETH$3 856.07

-1.86%

Tether
USDT$0.999067

-0.06%

Binance Coin
BNB$597.03

-1.13%

Solana
SOL$169.71

0.71%

USD Coin
USDC$1.000181

-0.01%

Altcoins soar, while Bitcoin and Ethereum price stall near key levels


27 May 2021

#Ethereum

Altcoins moved higher, while a lack of buy volume prevented Bitcoin and Ether price from breaking out after the completion of a bullish inverse head and shoulders pattern. On Wednesday, the bullish momentum that had propelled Bitcoin (BTC) and altcoins into a relief rally was somewhat subdued, as traders remain unsure of what may happen next. 

After an early morning attempt by Bitcoin bulls to drive BTC’s price above $40,000 was met with stiff resistance, the digital asset lost momentum and slumped back to the $38,000 support level.

Despite the continued struggle, a few positive signs such as a decline in BTC exchange deposits and an uptrend in addresses accumulating Bitcoin suggest that bears have stopped selling and the worst of the downturn may have passed. Earlier in the day, Ether (ETH) also rallied close to the $3,000 level, but the pullback in BTC price saw the top altcoin fall below $2,800.

Polygon leads the altcoin charge

While a majority of the cryptocurrencies are well below recently established highs, Polygon’s (MATIC) price bucked the trend by seeking out a clear V-shaped recovery. The altcoin rallied higher today as the project announced the launch of its SDK stack that will allow developers to easily deploy their own Ethereum-connected blockchains. Since Tuesday, MATIC has rallied 50% from a low of $1.51 to an intraday high at $2.44 on Wednesday. According to data from Cointelegraph Markets Pro, market conditions for MATIC have been favorable for some time.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity. As seen in the chart above, the VORTECS™ Score for MATIC has been in the green zone for most of the past week, and it registered a high of 94 several times on Tuesday, around seven hours before the price increased 50% over the next day.

Other notable altcoin performances include an 89% gain for Skale Network (SKL) and a 67% rally from Enjin Coin (ENJ). Origin Protocol also gained 53%. The overall cryptocurrency market capitalization now stands at $1.7 trillion, and Bitcoin’s dominance rate is 42.5%.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 77.2% 43 $67 685.77 -1.74% -4.06% $1 333 720 305 958 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 68% 70 $3 856.07 -1.86% 2.36% $463 258 843 200 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.2% 1 $0.999067 -0.06% -0.07% $111 860 875 075 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 94.4% 6 $597.03 -1.13% -2.61% $88 113 124 808 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 67.6% 73 $169.71 0.71% -5.16% $76 285 696 632 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 94.4% 1 $1.000181 -0.01% 0.02% $32 486 438 065 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 93.2% 6 $0.528184 -0.83% -2.87% $29 277 463 978 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 76% 50 $0.162784 -4.05% -3.48% $23 518 429 286 DOGE 7 days price change
9 Toncoin (TON) TON Toncoin predictions 68.8% 64 $6.37 -1.95% 0.04% $22 123 822 286 TON 7 days price change
10 Cardano (ADA) ADA Cardano predictions 86.4% 19 $0.455335 -2.37% -9.08% $16 253 111 127 ADA 7 days price change
11 SHIBA INU (SHIB) SHIB SHIBA INU predictions 78.4% 33 $0.000026 0.32% -1.72% $15 102 955 216 SHIB 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 70.4% 52 $36.79 -2.29% -9.28% $14 455 407 164 AVAX 7 days price change
13 Chainlink (LINK) LINK Chainlink predictions 61.6% 82 $18.08 3.86% 6.92% $10 616 334 015 LINK 7 days price change
14 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 76.8% 42 $68 003.07 -1.36% -4.11% $10 570 844 156 WBTC 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 80.4% 33 $7.31 -2.59% -3.52% $10 506 078 807 DOT 7 days price change

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